JIRE's Solar Ambition Shines: Secures 300-MW Project with SJVN

Jindal India Renewable Energy (JIRE) has secured a 300-MW solar energy project from SJVN Ltd., part of a 1,200-MW ISTS-connected solar tender. JIRE will develop the project on a build-own-operate basis with a tariff of Rs 3.32/kWh and plans a USD 2.5 billion investment to expand its renewable portfolio.

Jindal India Renewable Energy (JIRE), the renewable energy wing of BC Jindal Group, announced Monday the acquisition of a 300-MW solar energy project from SJVN Ltd. This forms part of SJVN's ambitious 1,200-MW solar power projects tender, which includes significant battery energy storage systems (BESS).

The 300-MW solar-plus-storage venture was secured by JIRE at a competitive tariff rate of Rs 3.32/kWh. The project, scheduled for completion within 24 months of the power purchase agreement, will be built, owned, and operated by JIRE. This move aligns with their strategic growth plans, aiming for a 5 GW capacity expansion across various renewable platforms.

In addition to securing this project, JIRE obtained a Letter of Acceptance for another 300-MW solar plus storage project from NHPC. The company plans to invest USD 2.5 billion over five years in the renewable energy sector, with initiatives like launching a solar module manufacturing plant in Maharashtra by 2026.

(With inputs from agencies.)